7K is merely scratching the surface of the money pit associated w/running a professional soft-bait plastic business w/custom,multiple CNC molds,website cost,packaging and related injection equipment.It will take a minimum of 5 years,mucho free handouts and costly advertising to become establised. The complete costs of your start up business could reach 40K+ over the span of 5 years w/ little profit.
1- Quality or quantity?? You'll need some expensive Zorn machines if you want to produce quantity
2-If you're going to sell the identical baits that Bass pro,Cabelas etc sell,then you had better be cheaper. Bait and tackle stores want a minimum of 40% off of your retail prices providing they are proven products. You'll get "hung out on the line'' if you get sucked into a consignment deal.
3- Figure $2.00 net profit per bag after all expenses and excise tax. Now throw in trademarks and patents-OUCH!!
@--For the purpose of discussion,let's say you sell 10,000 bags of plastic products per year. that's only 20k income. You can't support a family on that for sure.
Reseach your options throughly, review the limitations of your financial resources and then decide in which direction you wish to go. This is one cutthroat business for sure and to suceed as a legitament business you'll be required to continuosly put in countless hours and $.
Good luck!